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Drug Store

CVS

130 E State Rd 434, Longwood, FL 32750

Listing Price: $5,946,000

Cap Rate
4.25%
Tenant Name
CVS
Years Remaining On Lease
11.7
Guarantor
Corporate Guarantee
Rentable SF
10,908
Lease Type
Double Net
Rent Per Square Feet
$23.17

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase a CVS Pharmacy located at 130 E State Rd 434, Longwood, FL. The property is situated on 1.55 acres of land and contains 10,908 square feet of net leasable area. This asset is subject to a long-term lease with 12 years remaining followed by four, five-year extension options. The City of Longwood has a strong business core which accounts for its daytime population of over 21,000. Some of the top employers include South Seminole Hospital, a part of the Orlando Health system, UPS, FedEx, Collis Roofing, Comprehensive Energy Services, and Pemberton Attachments. Numerous businesses and industrial parks, including the Florida Central Commerce Park, are home to several companies including award winning business incubators. CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. As of December 31, 2021, it operated approximately 9,900 retail locations and 1,200 MinuteClinic locations, as well as online retail pharmacy websites, LTC pharmacies, and onsite pharmacies.

Investment Highlights

  • Investment Grade Tenant – Long Term Lease With 12 Years Remaining
  • 11% Rental Increase in 2034 & Increases Every 5 Years Thereafter
  • Growth Area With Several Housing Projects In Play
  • Within Walking Distance To Orlando Health/South Seminole Hospital – 206 Beds
  • Hard Corner Signalized Intersection – Traffic of 40,250+ Vehicles Per Day
  • 2020 Roof With A 20 Year Guarantee
  • Oversized 1.55 Acre Parcel With Ample On-Site Parking
  • Drive-Thru Pharmacy

Exclusively Listed By

Financing By

Listing Price: $5,946,000

Cap Rate
4.25%
Tenant Name
CVS
Years Remaining On Lease
11.7
Guarantor
Corporate Guarantee
Rentable SF
10,908
Lease Type
Double Net
Rent Per Square Feet
$23.17

Investment Highlights

  • Investment Grade Tenant – Long Term Lease With 12 Years Remaining
  • 11% Rental Increase in 2034 & Increases Every 5 Years Thereafter
  • Growth Area With Several Housing Projects In Play
  • Within Walking Distance To Orlando Health/South Seminole Hospital – 206 Beds
  • Hard Corner Signalized Intersection – Traffic of 40,250+ Vehicles Per Day
  • 2020 Roof With A 20 Year Guarantee
  • Oversized 1.55 Acre Parcel With Ample On-Site Parking
  • Drive-Thru Pharmacy

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase a CVS Pharmacy located at 130 E State Rd 434, Longwood, FL. The property is situated on 1.55 acres of land and contains 10,908 square feet of net leasable area. This asset is subject to a long-term lease with 12 years remaining followed by four, five-year extension options. The City of Longwood has a strong business core which accounts for its daytime population of over 21,000. Some of the top employers include South Seminole Hospital, a part of the Orlando Health system, UPS, FedEx, Collis Roofing, Comprehensive Energy Services, and Pemberton Attachments. Numerous businesses and industrial parks, including the Florida Central Commerce Park, are home to several companies including award winning business incubators. CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. As of December 31, 2021, it operated approximately 9,900 retail locations and 1,200 MinuteClinic locations, as well as online retail pharmacy websites, LTC pharmacies, and onsite pharmacies.

Exclusively Listed By

Financing By

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